Mackey orders from pride one thousand cases of greenie brand peas from lot a at list price to be shipped f. o.b. pride’s city via fast freight lines. pride receives the order and immediately sends mackey an acceptance of the order with a promise to ship promptly. pride later separates the one thousand cases of greenie peas and prints mackey’s name and address on each case. the peas are placed on pride’s dock, and fast freight is notified to pick up the shipment. the night before the pickup by fast freight, through no fault of pride’s, a fire destroys the one thousand cases of peas. pride claims that title passed to mackey at the time the contract was made and that risk of loss passed to mackey when the goods were marked with mackey’s name and address. discuss pride’s contentions.

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business.true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.